Hiscox News

Lloyd’s to Move Some Business to EU if UK Loses Post-Brexit Passporting

The Lloyd’s of London insurance market is already working on plans to move some business to the European Union, aiming to be ready for the shift as soon as Britain starts divorce proceedings from the bloc, its chairman said on …

Hiscox USA Expands Allied Healthcare Coverage to Pharmacies

Hiscox has launched a new coverage designed specifically for pharmacies that will complement Hiscox’s existing tailored forms in Allied Healthcare, including ambulance and medical transportation, beauty salon and day spa, and home healthcare products. Hiscox’s set of coverages are customized …

Hiscox Launches Combined Cyber Risk, Professional Liability Coverage for Hospitals

Hiscox has combined the services of its healthcare and cyber underwriters to launch Healthcare Threat Protect to coordinate with a hospital’s professional and general liability as well as their growing cyber exposures. Healthcare Threat Protect is an all-in-one policy with …

EU Passporting Essential for Lloyd’s Market Position in Post-Brexit World: Fitch

The UK’s exit from the European Union, or “Brexit,” could lead to a loss of business for Lloyd’s of London unless the UK government is able to negotiate passporting arrangements to maintain access to the European Economic Area (EEA)*, according …

Hiscox Sells Hong Kong Division of DirectAsia to Well Link Group Holdings

Hiscox, the specialist insurance group, has completed the sale of the Hong Kong division of its DirectAsia business to Well Link Group Holdings Ltd., having received regulatory approval from the Office of the Commissioner of Insurance (OCI) in Hong Kong. The business will …

Best Revises Lloyd’s Outlook to Stable from Positive on Difficult Business Conditions

A.M. Best has revised the outlooks to stable from positive of Lloyd’s and Lloyd’s Insurance Co. (China) Ltd., while at the same time affirming their financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+”. In …

Hiscox Launches New US Flood Cover

Hiscox London Market has launched a new flood product for U.S. homeowners — FloodPlus. Working with wholesale brokers in the US to distribute the new product, FloodPlus offers higher limits and a wider scope of cover than policies provided by …

Hiscox Appoints Hussain as Group Chief Financial Officer

Hiscox Ltd. announced that Hamayou Akbar (“Aki”) Hussain will join the Hiscox Group as group chief financial officer. Hussain will join Hiscox from Prudential plc, where he spent seven years; latterly as chief financial officer of Prudential UK & Europe. He sits on …

Hiscox Expands Cyber Offering to Small, Mid-Size Businesses

Hiscox has expanded its cyber and data risk coverage to include Hiscox CyberClear. The product is designed for small and medium-sized enterprises in the U.S. with less than $1 billion in annual revenue. This product will complement Hiscox’s existing Cyber …

Low Interest Rates, Soft Market Pricing Hit London Market Insurers: Fitch

The negative impact of low interest rates and soft market pricing on London market insurers has been partially offset by low levels of large claims, according to Fitch Ratings in a special report. London market insurers tend to hold a …